Sir Richard Branson has warned that the UK will be left “near bankrupt” in the event of a hard Brexit. He told the BBC he was “absolutely certain” that leaving the EU without a deal would lead to the closure of “quite a few British businesses” ~ BBC UK
The virgin boss said that he is sure that some of the businesses will come to a closure if there would be a hard brexit. According to Sir Richard branson, A no-deal brexit would be leaving the UK with near to bankruptcy. He told the reporters this Friday that he is quite sure that some of the businesses would get closed if there is a hard brexit.
He added that is now completely clear and opaque that Britain would come near bankruptcy if they push them ahead something that is like a hard Brexit. He said that he thinks that Theresa might be in the need to be completely honest with the public that even if the business gets suffered, British people would be those who will get suffer and it is important that those people know this earlier.
A worst case scenario was produced by the bank of England for a no-deal Brexit in the last month that showed that the UK has been suffering from its most severe recession since after the Second World War and now its house prices are also falling by a third.
A no-deal brexit would also force the imposition of such a large array of checks on all the goods and products of the UK which would be exported to the EU and it could certainly cause a blockage of transportation in both the transactions. Well this situation is really going to be disastrous for the UK retailers and manufacturers with its just-in-time supply chains and it could also be a threat to the supply of medicines and food for UK. Another thing which is added is that there would be no fall-back in the international agreement for aviation which simply means that the planes would now not be able to fly from the UK to EU and from EU to UK.